A Carillion Joint Venture, Carillion Secure Solutions, has been selected to design, build, finance and maintain Toronto’s Forensic Services and Coroner’s Complex (FSCC).
The FSCC will house Ontario’s Centre of Forensic Sciences and its Office of the Chief Coroner in a single facility that will include forensic laboratories, offices, autopsy suites and two courtrooms for coroners’ inquests. The 30-month construction period will begin on site in August 2010.
The project will be delivered using an Alternative Financing and Procurement model, which is similar to the UK’s Public Private Partnership model. As well as arranging debt finance to meet the costs of construction, Carillion will invest £11.8 million of equity in the project.
Carillion will also carry out the construction work and provide facility management and life-cycle repair services over the 30-year concession period that together are expected to generate £306 million of revenue for Carillion.
Chief Executive John McDonough said: “We are delighted to have achieved financial close on this prestigious project, which further reinforces our leading position in the PPP market for social infrastructure in Canada, where we have established a very strong track record. We look forward to working with Ontario’s Ministry of Community Safety and Correctional Services and its stakeholders to provide Ontario with one of the most modern facilities of this kind in the world.”
Carillion is one of the leading providers of privately financed social infrastructure facilities in Canada. In addition to the FSCC project, Carillion is currently building and financing Toronto’s Centre for Addiction and Mental Health, the Sault Area Hospital and the Royal Victoria Hospital in Barrie, having successfully delivered two of the first major Public Private Partnership hospitals in Canada – the new William Osler Hospital in Toronto and the Royal Ottawa Hospital.
|
If you like this article and want to share it with friends, please use the social links below:
|
|
Back